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What Does The Global Asphalt Additives Market Size Indicate About Its Growth And Trends?
The asphalt additives market size has experienced robust growth in recent years. It rose from $4.35 billion in 2024 to an anticipated $4.78 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.8%. The growth during this historic period is largely attributed to government investments in transportation infrastructure, expansion of the transportation network, a surge in infrastructure rehabilitation projects, economic growth, and a rise in the construction sector.
The asphalt additives market size is expected to continue its upward trajectory in the coming years, projected to reach $6.98 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to escalating road construction and maintenance activities, burgeoning industrialization, rapid urbanization, extreme weather conditions, and an era of aging infrastructure. Major trends in the forecast period consist of nanotechnology in additives, performance-grade binders, polymer-modified asphalt, warm mix asphalt (WMA), and recycled materials.
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What Key Factors Are Driving The Growth Of The Asphalt Additives Market?
The growth of the asphalt additives market is being propelled by an increase in road construction projects. Roads play a pivotal role in economic development and progress, providing significant social advantages. Asphalt additives are used in constructing roads as they enhance the quality of the road and make it more durable. For instance, according to the India Brand Equity Foundation (IBEF), a Trust established by the Department of Commerce, Ministry of Commerce and Industry, and Government of India, India constructed 13,298 kilometers of roadways in FY21 despite the pandemic and shutdowns. This increase in road construction projects is expected to drive the asphalt additives market.
Major Segments Within The Global Asphalt Additives Market Include:
1) By Type: Polymeric Modifiers, Anti-strip And Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt
2) By Technology: Hot Mix, Cold Mix, Warm Mix
3) By Application: Road Construction, Road Paving, Airport Runway, Parking Lots, Roofing
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What Companies Are Dominating The Asphalt Additives Market?
Major companies operating in the asphalt additives market include Arkema S.A., ArrMaz Products Inc., BASF SE, Evonik Industries AG, Huntsman Corporation, Nouryon Holding B.V., Sasol Limited, China Petroleum & Chemical Corporation, Solvay SA, Jiangsu Jinyang Group Co. Ltd., Zibo Bridge Lung Chemical Co. Ltd., Berkshire Engineering Supplies Ltd., Engineered Additives LLC., Sonneborn LLC., LUCOBIT AG, Tri-Chem Specialty Chemicals LLC., Colas SA, Cargill Inc., Owens Corning Corporation, CRH PLC., Honeywell International Inc., Kraton Corporation, Akzo Nobel NV, Grupo Dynasol S.A. de C.V., McAsphalt Industries Limited, ATDM Co Ltd., Kao Corporation., Petrochem Specialties Inc., Dupont De Nemours Inc.
Which Emerging Trends Are Transforming The Asphalt Additives Market?
Bio-based asphalt additives are shaping the asphalt additives market. For instance, in February 2024, Shrieve, a US-based chemical company, launched the PROGILINE ECO-T organic asphalt additives. The additives enhance the durability of roads by improving adhesion between aggregates and bitumen, reducing energy consumption and emissions, and speeding up road construction.
What Does The Regional Analysis Indicate About The Asphalt Additives Market?
In 2024, Asia-Pacific was the largest region in the asphalt additives market and is expected to be the fastest-growing region. The regions covered in the asphalt additives market report span Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Asphalt Additives Market Report 2025 Offer?
The asphalt additives are chemicals or substances added to asphalt to modify the asphalt binder’s outcome. They improve the adhesive force between aggregates and asphalt cement, preventing cracking, unravelling, and deformation. The Asphalt Additives Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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